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Forecast for the week of November 18, 2024

Please enjoy this complimentary mortgage rate forecast provided to keep you informed of where interest rates may be headed, and to help you gain the advantage in securing low rates and payments.

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Last Week's Mortgage Rate Recap:

Rates increased

Mortgage rates rose last week due to slightly higher inflation data for October and comments from Fed Chair Jerome Powell, suggesting a possible pause in future policy rate cuts.

This Week's Mortgage Rate Forecast:

Rates could creep higher

Since mid-September, the mortgage rate outlook has shifted dramatically. Earlier, rates were expected to decrease by the year's end; now, they are likely to stay at current levels or potentially rise further. Be sure to talk with your mortgage pro about why now is a good time to buy or refinance.

What's affecting rates this week:

• The Fed: Expectations that the Fed would continue to cut its policy rate into 2025 are starting to turn around, with markets now preparing for the Fed to hold off on future rate cuts. Although the Fed doesn't set mortgage rates, the underlying economic conditions that stop the Fed from cutting - a strong economy and labor market - would also contribute to higher mortgage rates.
• Inflation: While recent data met expectations, there is concern that the economy may accelerate under President Trump's upcoming administration in 2025, potentially sparking higher inflation. Rising inflation could pressure mortgage rates to move higher.
  

If you would like to discuss interest rates further or find out the benefits of locking your rate today, please contact your mortgage professional at or .

Interest Rate Forecast and Commentary provided by:

All information provided is for informational purposes only, and we assume no responsibility to any person who relies on information contained in this report, and disclaim all liability in respect to decisions or actions or lack thereof based on any or all of the contents of this report. This is not an offer to lend.